Johnson & Johnson $JNJ Shares Sold by Grove Bank & Trust

Key Points

• Grove Bank & Trust reduced its holdings in Johnson & Johnson by 30.3%, now owning 13,554 shares valued at approximately $2.07 million.
• Johnson & Johnson reported earnings of $2.77 per share, surpassing analysts' expectations and marking a 5.8% increase in quarterly revenue year-over-year.
• The company announced a $1.30 quarterly dividend, translating to an annual yield of 3.0% with a payout ratio of 55.61%.

Grove Bank & Trust reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 30.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,554 shares of the company's stock after selling 5,888 shares during the period. Grove Bank & Trust's holdings in Johnson & Johnson were worth $2,070,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Johnson & Johnson by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock valued at $38,800,371,000 after purchasing an additional 1,170,120 shares in the last quarter. Northern Trust Corp increased its stake in Johnson & Johnson by 0.4% during the 1st quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock valued at $5,131,723,000 after purchasing an additional 130,645 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after purchasing an additional 4,842,582 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Johnson & Johnson by 3.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock valued at $3,133,602,000 after purchasing an additional 712,181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Johnson & Johnson by 2.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock worth $3,031,955,000 after acquiring an additional 448,666 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price target on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Guggenheim reiterated a "neutral" rating and issued a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Morgan Stanley lifted their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, UBS Group lifted their price target on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $177.87.

Insider Activity at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the transaction, the executive vice president directly owned 178,013 shares of the company's stock, valued at $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

Johnson & Johnson Trading Up 1.0%

Shares of NYSE JNJ traded up $1.81 during mid-day trading on Friday, reaching $175.97. The company had a trading volume of 25,617,065 shares, compared to its average volume of 6,995,150. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $181.16. The business's 50-day moving average is $172.80 and its 200-day moving average is $161.67. The stock has a market cap of $423.80 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 2.24 and a beta of 0.40. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. During the same period in the prior year, the firm earned $2.82 earnings per share. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. Equities analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is presently 55.61%.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.